Traders Sell Shares of Constellation Brands Inc. (STZ) on Strength (STZ)
Investors sold shares of Constellation Brands Inc. (NYSE:STZ) on strength during trading hours on Wednesday. $24.83 million flowed into the stock on the tick-up and $35.77 million flowed out of the stock on the tick-down, for a money net flow of $10.94 million out of the stock. Of all stocks tracked, Constellation Brands had the 0th highest net out-flow for the day. Constellation Brands traded up $0.24 for the day and closed at $166.61
Several research analysts have recently commented on STZ shares. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Constellation Brands in a report on Friday, July 15th. Wells Fargo & Co. reissued a “buy” rating on shares of Constellation Brands in a research note on Thursday, June 30th. SunTrust Banks Inc. reissued a “buy” rating and issued a $180.00 price objective on shares of Constellation Brands in a research note on Friday, June 3rd. Zacks Investment Research raised shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 price objective on the stock in a research note on Friday, July 1st. Finally, Susquehanna reissued a “hold” rating and issued a $155.00 price objective on shares of Constellation Brands in a research note on Tuesday, June 28th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $174.10.
The stock’s 50-day moving average is $164.68 and its 200-day moving average is $155.18.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, June 30th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. The company earned $1.87 billion during the quarter. During the same period in the previous year, the company earned $1.26 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts predict that Constellation Brands Inc. will post $6.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were paid a $0.40 dividend. The ex-dividend date was Monday, August 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.96%.
In related news, CFO David Eric Klein sold 14,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $166.27, for a total transaction of $2,377,661.00. Following the completion of the sale, the chief financial officer now directly owns 36,152 shares in the company, valued at $6,010,993.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas Michael Kane sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $163.26, for a total transaction of $1,142,820.00. Following the sale, the vice president now owns 8,764 shares of the company’s stock, valued at $1,430,810.64. The disclosure for this sale can be found here.
Other hedge funds have made changes to their positions in the company. Trexquant Investment LP raised its stake in shares of Constellation Brands by 9.2% in the fourth quarter. Trexquant Investment LP now owns 10,700 shares of the company’s stock valued at $1,524,000 after buying an additional 900 shares during the period. I.G. Investment Management LTD. acquired a new stake in shares of Constellation Brands during the fourth quarter valued at about $1,924,000. KBC Group NV raised its stake in shares of Constellation Brands by 12.2% in the fourth quarter. KBC Group NV now owns 20,412 shares of the company’s stock valued at $2,907,000 after buying an additional 2,218 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Constellation Brands by 4,946.3% in the fourth quarter. BNP Paribas Arbitrage SA now owns 75,695 shares of the company’s stock valued at $10,782,000 after buying an additional 74,195 shares during the period. Finally, State of Tennessee Treasury Department raised its stake in shares of Constellation Brands by 12.4% in the fourth quarter. State of Tennessee Treasury Department now owns 195,405 shares of the company’s stock valued at $27,834,000 after buying an additional 21,614 shares during the period.
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.